Circles Allaire Says Bitcoin ETFs Likely to Be Approved: Bloomberg

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Circles co-founder and CEO Jeremy Allaire expects the new wave of Bitcoin exchange-traded funds (ETFs) to be approved as past concerns from regulators are addressed.

I believe progress is being made with more mature market structures that would support something like this. You have mature cash markets, a well-regulated custody infrastructure and good market surveillance, he said in an interview with Bloomberg at the World Economic Forum. Many of the past concerns are being resolved, suggesting that these types of products are more likely to be approved for general investor access.

The Securities and Exchange Commission (SEC) has received several applications for spot Bitcoin ETFs from blue-chip asset managers such as BlackRock (BLK) and Invesco (IVZ).

During the interview with Bloomberg, Allaire also said that Circle is seeing demand for digital dollars in emerging markets.

Singapore’s regulators have been at the forefront, and Hong Kong is looking to establish itself as an important hub for digital asset markets and stablecoins. We pay very close attention to it, he said.

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